$1.16 EPS Expected for Owens Corning (NYSE:OC) This Quarter

Analysts predict that Owens Corning (NYSE:OC) will announce earnings of $1.16 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Owens Corning’s earnings, with estimates ranging from $1.07 to $1.32. Owens Corning reported earnings of $1.17 per share during the same quarter last year, which would indicate a negative year over year growth rate of 0.9%. The business is scheduled to report its next earnings results on Wednesday, July 24th.

On average, analysts expect that Owens Corning will report full-year earnings of $4.67 per share for the current fiscal year, with EPS estimates ranging from $4.45 to $4.80. For the next financial year, analysts expect that the business will post earnings of $5.44 per share, with EPS estimates ranging from $4.95 to $6.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Owens Corning.

Owens Corning (NYSE:OC) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). Owens Corning had a return on equity of 12.10% and a net margin of 7.07%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis.

A number of research firms have recently weighed in on OC. Zacks Investment Research raised Owens Corning from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Stifel Nicolaus downgraded Owens Corning from a “buy” rating to a “hold” rating and set a $52.45 price target for the company. in a research note on Wednesday, April 24th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Owens Corning in a research note on Tuesday, April 23rd. Bank of America raised Owens Corning from an “underperform” rating to a “neutral” rating and set a $51.48 price target for the company in a research note on Monday, May 6th. Finally, Citigroup set a $53.00 price target on Owens Corning and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $57.38.

In related news, insider Gunner Smith sold 7,900 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $51.79, for a total value of $409,141.00. Following the transaction, the insider now directly owns 21,189 shares of the company’s stock, valued at approximately $1,097,378.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael H. Thaman sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $51.49, for a total value of $1,544,700.00. Following the completion of the transaction, the insider now directly owns 856,240 shares in the company, valued at $44,087,797.60. The disclosure for this sale can be found here. Insiders sold a total of 40,938 shares of company stock worth $2,114,034 over the last three months. 1.70% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV grew its holdings in Owens Corning by 1.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 11,580 shares of the construction company’s stock valued at $546,000 after buying an additional 215 shares during the last quarter. Sage Capital Advisors llc grew its holdings in Owens Corning by 0.8% in the 1st quarter. Sage Capital Advisors llc now owns 30,401 shares of the construction company’s stock valued at $1,432,000 after buying an additional 250 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Owens Corning in the 1st quarter valued at approximately $26,000. MBM Wealth Consultants LLC grew its holdings in Owens Corning by 9.0% in the 1st quarter. MBM Wealth Consultants LLC now owns 7,671 shares of the construction company’s stock valued at $361,000 after buying an additional 633 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Owens Corning by 4.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 16,788 shares of the construction company’s stock valued at $791,000 after buying an additional 648 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of OC traded down $0.42 during midday trading on Monday, reaching $50.97. 1,569,400 shares of the stock were exchanged, compared to its average volume of 1,525,185. Owens Corning has a 12-month low of $40.64 and a 12-month high of $67.30. The business has a 50 day simple moving average of $50.15. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 1.83. The firm has a market cap of $5.58 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Tuesday, July 16th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, July 15th. Owens Corning’s payout ratio is 17.81%.

About Owens Corning

Owens Corning, together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide. It operates in three segments: Composites, Insulation, and Roofing. The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

Featured Story: Backdoor Roth IRA

Get a free copy of the Zacks research report on Owens Corning (OC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Owens Corning (NYSE:OC)

Receive News & Ratings for Owens Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens Corning and related companies with MarketBeat.com's FREE daily email newsletter.